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The Economist in Tort Litigation

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  • Robert Thornton
  • John Ward
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    Abstract

    In recent decades, the involvement of economists as consultants and expert witnesses in civil tort actions has grown rapidly. In this article, the authors discuss the reasons for this phenomenon and the extent to conflicts of interest to arise in the practice of what is frequently called 'forensic economics.' They argue that, although conflict-of-interest pressures exist, the limited evidence does not indicate that unethical practices are rampant within the profession. Moreover, market correctives, judicial screening, codes of ethical behavior, and the dissemination of knowledge concerning proper forensic practice help to serve as (arguably imperfect) safeguards against unethical practice.

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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.13.2.101
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    Bibliographic Info

    Article provided by American Economic Association in its journal Journal of Economic Perspectives.

    Volume (Year): 13 (1999)
    Issue (Month): 2 (Spring)
    Pages: 101-112

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    Handle: RePEc:aea:jecper:v:13:y:1999:i:2:p:101-112

    Note: DOI: 10.1257/jep.13.2.101
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    Cited by:
    1. Bruno S. Frey, 2000. "Was Bewirkt die Volkswirtschaftslehre?," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 1(1), pages 5-33, 02.
    2. Robert Cooter & Winand Emons, 2000. "Truth-Revealing Mechanisms for Courts," Econometric Society World Congress 2000 Contributed Papers 0211, Econometric Society.
    3. Winand Emons, 2005. "Perjury versus Truth Revelation: Quantity or Quality of Testimony," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 161(3), pages 392-, September.

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